The Term Ceteris Paribus Is an Assumption That Economists Use

question 2

Multiple Choice

The term ceteris paribus is an assumption that economists use implying:

• A) all else is equal.
• B) to the victor go the spoils.
• C) nothing can be said to be certain except death and taxes.
• D) the market is always efficient.

---

Definitions:

Lottery Tickets

Physical or digital certificates used in lotteries that contain unique numbers or symbols participants purchase hoping to match a draw and win prizes.

Chi-square Test

A statistical test used to determine if a significant relationship exists between two categorical variables.

Significance Level

The threshold or probability of rejecting the null hypothesis when it is actually true, commonly denoted by alpha (α).

Sample Data

A subset of data collected from a larger population, used in statistical analysis as a representation of that larger population.